In the third installment of the Unstoppable series, you’re going to learn the fastest and easiest way to grow your business through the three keys to a seven figure foundation!
So, what are the three keys to a seven figure foundation?
They are infrastructure, sales and marketing and client servicing and retention.
The first of the three keys to a seven figure foundation is Infrastructure.
Having an infrastructure within your business is so important because it involves a business model.
What kind of business model exists within your business? Is it one to one, one to many, business to business?
Too many times entrepreneurs get themselves trapped inside a box because they didn’t think about this from the start.
You’re not going to make it to the million-dollar mark alone.
You most likely will need to have a combination of contractors, virtual support, outsourcing and employees.
By hiring and working with these people, you’re able to handle things better, faster and cheaper!
Consider these three ideas when building your infrastructure within your business:
- You need to be committed to mastering sales and marketing
- As the CEO of your business, your future and the future of your business relies on your ability to drive profitable sales.
- Products and Services
- You want to have a mix of business, services, clients, streams of income and price points.
- Focus on one element until you are successful and then expand on it and replicate.
- Communication and Management
- Hold your staff accountable – every position within your business should produce profits.
- Create sets of standards, follow up procedures and checkpoints to ensure an ROI on your investment.
Sales and Marketing
You may be asking yourself “What does it take to build a profitable, sustainable business?”
GROWTH REQUIRES SALES
There is a marriage of sales and marketing that you must implement in your business to create ongoing growth.
Sales requires direct interaction with prospects in your marketing because that will lead to a sale.
Examples of direct interaction: sales meetings, client lunches, live videos and automated webinars.
Whatever you decide to do, sales are essential to bringing in the profits and dream business you have been seeking.
Marketing requires lead generation and adding new prospects to the funnel database or email list each week. Therefore you will want to include outreach such as sending out weekly newsletters, google hangouts, twitter chats.
People want to be able to see what your company is about and learn from you.
By integrating these factors to your marketing, you are creating the know, trust and like process so you can get them primed to buy.
Client Servicing and Retention
Are you a small business owner or entrepreneur who wants to improve your client servicing and retention?
Consider these three key things to grow and scale this factor of your business!
- Client Servicing
- Pricing impacts every area of your business
- Not only does it impact your business, but it determines your income, how many hours/ customers you have to service in order to achieve your goals
- Customer Retention
- The fastest yet easiest way to grow your business is to retain the customers you have within your business.
- You want to be able to enjoy the process of getting customers and it has to be a win-win situation.
- Be committed to delivering a promise and bring the level of results your customers expect. Steer away from undercharging because you’ll only be hurting your business by not charging what you’re worth.
- Internal policies, procedures and systems
- Consider keeping all income and expenses separate, documented and recorded. As a result, this will ensure you get the max write offs and have a sense of where money is coming and going.
- Also, you want to make sure that all internal training is documented, recorded, labeled and documented because this will allow future hires to be independent and productive faster.
Begin to implement the three keys to a seven figure foundation today!
A profitable business is built upon 5 main pillars: mindset and productivity, a 7-figure foundation, strong sales and marketing systems, engineering your celebrity and building a winning team — we’ll be walking you through the principles of each in this blog series.
Other posts in this series:
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